It’s not enough to simply hire good sales representatives. You need to manage them to ensure they are working toward your goals and executing your strategy. Left to their own devices, even the best sales representatives will put their own interests first which may, or may not, coincide with your strategic goals. Training is also […]
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Element 4: Build Your Team
Posted by David Wallace on December 19, 2019
To execute your strategic plan successfully, you need to have the right resources and talent in place, from sales leader to sales reps, marketers and channel partners. Your sales leader sets and executes your market strategy and drives revenue to achieve your company’s goals. This leader is also responsible for the day-to-day leadership of your […]
Read MoreElement 3: Build Your Plans
Posted by David Wallace on December 19, 2019
A business plan is a road map that defines how your company will achieve its commercial goals. It considers the resources, opportunities, limitations and challenges the company faces. The plan includes actions, time frames and accountability to complete the actions. Most importantly, your business plan should be dynamic and flexible to adapt to changing market […]
Read MoreElement 1: Establish Your Foundation
Posted by David Wallace on December 19, 2019
Every successful organization is built on a firm foundation. Sales are no different. The basic building blocks of an effective sales organization are well-defined goals and a clear strategy to achieve those goals. Goals define where you are going. Strategy tells you how to get there. Goals Goals should be clearly defined and communicated to […]
Read MoreElement 2: Create Your Sales Organization
Posted by David Wallace on November 20, 2019
There are 8 Elements of Effective Sales Management Element 2: Create Your Sales Organization How you define your sales organization depends on your strategy – what you’re selling, where your target market is, who you’re selling to, and how you plan to reach your market. You may need an inside sales organization that focuses on lead […]
Read MoreGoals and metrics are not the same thing.
Posted by David Wallace on November 13, 2019
Goals indicate a desired result. Metrics measure progress toward the goal. Metrics can also measure the activities necessary to drive results such as the number of initial calls a sales rep completes each week or the number of presentations a rep delivers each day. A good manager puts metrics in place so that she can […]
Read MoreHave You Set Realistic Goals?
Posted by David Wallace on June 11, 2019
Effective businesses set goals and manage to them. When setting corporate sales goals, a company should first look at the market. What drives growth in each of the industries in which you sell your products? How much share does your firm have in each market? What are the competitive environments in your markets? Can you […]
Read MoreIt All Starts with Strategy. What’s Your Strategy?
Posted by David Wallace on May 28, 2019
Sales success starts with strategy. You need a clear sales strategy and you need to clearly communicate that strategy to your sales team. If you don’t have a clear strategy or your sales team doesn’t understand your strategy, you’re not likely to achieve your goals. Furthermore, an unclear or misunderstood strategy is a prescription for […]
Read MoreReviewing Plans, Activities and Results
Posted by David Wallace on April 26, 2019
Over the course of the year or sales cycle, effective managers review each sales representative’s sales plan on a regular basis. Reviews cover more than milestones and key performance indicators, although those are important to include. Reviews also examine the assumptions that underlie the plan. They look at market conditions – have they changed? – […]
Read MoreAre Your Sales Reps Ready for the New Year?
Posted by David Wallace on January 25, 2019
It’s January. Your competitors’ sales reps are off and running. Are yours? The best way for your sales team to meet its revenue goals – and yours – is to develop and work through a territory plan. Don’t simply give your reps sales quotas and tell them to go figure. Have the reps develop a detailed […]
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